Tuesday, April 7, 2015

Arvinas' Proteolysis-Targeting Chimera Tech Scores Big, With Multi-Phase Kenilworth Deal

This relationship could reach nearly a half-billion dollars, in payments out of Kenilworth. Pretty strong validation of the PROTAC approach, originally venture investment backed by 5AM Ventures, and Caanan Partners. More later -- day gig calls. . .

A bit from FierceBioTech, and Damian Garde, then -- do go read it all:

. . . .Under the deal, Merck will hand the New Haven, CT, biotech an up-front payment and research funding, promising more cash tied to development milestones and setting Arvinas' maximum haul at $434 million if everything works out over the multiyear agreement. In exchange, Merck will get a chance to use the company's proteolysis-targeting chimera, or PROTAC, technology, which creates small-molecule treatments that mark proteins for degradation. . . .

And so we shall, as ever, see. These two early stage investors stand to reap billions in returns, if the PROTAC can do in vivo, what it looks like it can do, in viro.

Congrats to Duke; condolences to the Badgers.

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